Information Markets

Wilhelm and Downing explain how the interplay among human capital, technological innovation, and information-intensive products, is driving unprecedented reorganization, deregulation, and consolidation in modern financial markets. By examining the nuts and bolts of information exchange in these markets, the authors draw lessons from the experience of financial intermediaries that will prove invaluable for all managers. They illustrate these lessons through a variety of fascinating case studies, including the Goldman Sachs public offering and recent developments in online securities exchange. The book provides guidance for managing the tension between human capital and information technology, establishing and enforcing property rights over information goods, and value creation through strategic management of competing interests in information.

Information Markets is the must-have guide to understanding the changing role of infomediaries in financial markets and the economy at large.

Contents

Preface

Acknowledgements

Part I: An Analytic Framework

Chapter 1: Information Markets

Chapter 2: A Primer on Financial Markets and Intermediaries

Chapter 3: Investment Banking

Part II: Trade in Information Markets

Chapter 4: How Intermediaries Resolve Coordination Problems

Chapter 5: The Death of the Banker?

Chapter 6: Human Capital and Industry Structure

Chapter 7: Why Goldman Sachs Went Public

Chapter 8: Online Stock Exchange

Chapter 9: Closing

Bibliography

Index

About the Authors